Dow Jones U.S. Oil & Gas Index: 534.61 Monday regular
NYMEX Benchmark Crude: +0.32 (+0.36%) to 88.78
Top Energy Stocks
Energy issues are mixed pre-market, while oil prices gain as the
dollar falls. Chevron Corp (
) will buy Atlas Energy Inc (
) for $4.3 billion which will boost Chevron's stake in the
Marcellus shale fields. Chevron will pay $43.34 a share for Atlas,
which marks a 37% premium over the company's closing price Monday.
Speculation is growing that Woodside Petroleum Ltd (WPL) will be
the target of a takeover after Royal Dutch Shell plc (RDSA) reduced
its stake in the Australian energy producer. Monday, Shell sold a
10% stake in Woodside for $3.3 billion, and rumors abound that it
will sell off its remaining 24.27% stake in the company.
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